Gossamer Bio (NASDAQ:GOSS) Issues Quarterly Earnings Results

Gossamer Bio (NASDAQ:GOSS) released its quarterly earnings results on Thursday. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.04, FiscalAI reports. The business had revenue of $9.24 million during the quarter, compared to the consensus estimate of $3.63 million.

Gossamer Bio Stock Performance

Shares of NASDAQ:GOSS traded down $0.01 on Thursday, reaching $0.17. The company’s stock had a trading volume of 11,144,138 shares, compared to its average volume of 18,038,418. The company has a 50-day simple moving average of $0.17 and a 200 day simple moving average of $0.59. Gossamer Bio has a 52-week low of $0.11 and a 52-week high of $3.87. The company has a market cap of $39.97 million, a P/E ratio of -0.22 and a beta of 2.04.

Institutional Investors Weigh In On Gossamer Bio

Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in shares of Gossamer Bio by 107.2% in the 4th quarter. Bank of America Corp DE now owns 84,788 shares of the company’s stock valued at $77,000 after purchasing an additional 43,866 shares during the last quarter. Invesco Ltd. bought a new position in shares of Gossamer Bio during the 1st quarter valued at approximately $48,000. Cubist Systematic Strategies LLC bought a new position in shares of Gossamer Bio during the 1st quarter valued at approximately $213,000. Goldman Sachs Group Inc. raised its holdings in Gossamer Bio by 720.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 939,603 shares of the company’s stock valued at $1,034,000 after buying an additional 825,047 shares during the period. Finally, Jane Street Group LLC raised its holdings in Gossamer Bio by 5,250.1% during the 1st quarter. Jane Street Group LLC now owns 683,423 shares of the company’s stock valued at $752,000 after buying an additional 670,649 shares during the period. 81.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on GOSS. Weiss Ratings downgraded shares of Gossamer Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 19th. HC Wainwright reissued a “buy” rating on shares of Gossamer Bio in a report on Monday, July 27th. Finally, Leerink Partners upgraded Gossamer Bio from a “market perform” rating to an “outperform” rating and set a $1.00 price objective on the stock in a research report on Tuesday, July 28th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Gossamer Bio has a consensus rating of “Hold” and a consensus price target of $3.20.

About Gossamer Bio

Gossamer Bio, Inc is a clinical-stage biopharmaceutical company headquartered in San Diego, California. Founded in 2012, the company is focused on discovering and developing oral, once-daily therapies for immune-mediated and inflammatory diseases, as well as oncology indications. Gossamer Bio leverages a deep pipeline of small-molecule candidates aimed at improving patient outcomes in areas of high unmet need.

The company’s lead programs include GB004, an S1P1 receptor modulator in late-stage development for ulcerative colitis, and GB1275, a CD11b modulator being investigated in solid tumors and hematologic malignancies.